It is a process where collecting and sorting the source documents formally. Book-keeping is the systematic recording and organizing of financial transactions in a company.

• It is a process of record regarding a financial transaction on a day-to-day basis. It helps your business to monitor your financial transactions and financial information related to your business.

• This process ensures that records of the individual financial transactions are every time correct, up-to-date, and comprehensive. You can maintain your Accuracy through this process.

• The bookkeeping method is performing by the machine (software and excel) this day. But in some places, the bookkeeping method performs by the bookkeeper.

• Identification – This is the first step of the bookkeeping method. Here we have collected all the purchase and sale bills, invoice bills, cheque payments, all types of transactions.

• Measuring – In this step, we separate (prepare ledger) all the purchase and sale bills, invoice bills, cheque payments, all types of transactions.

• Recording - This is the first step of the bookkeeping method. Here we have collected all the purchase and sale bills, invoice bills, cheque payments, all types of transactions.

It is the book, where records all the purchase and sale bills, invoice bills, cheque payments, all types of transactions daily.

• Kept data into a ledger or account posting sale and purchase basis or posting inward and outward basis.

  • Make this at the end of the period of the month or week.

Basically summarizing, analyzing, interpreting, communicating the four steps are followed by the accounting practitioner.

Billing classifications are used to group similar free text invoices for processing and viewing. Billing classifications include the following information:

• Billing classification code (up to 15 alphanumeric characters)

• Description (up to 60 characters)

• Terms of payment

• Interest information

• Number sequence for invoice number

• Number sequence for credit notes

• Number sequence for collection letters

• Billing codes that can be assigned to invoices that use this billing classification

Billing codes provide a set of default billing values and rates for a defined type of service or charge. Billing codes include the following information:

• Billing code (up to 10 alphanumeric characters)

• Description (up to 60 characters; this will print on the invoice)

• Effective date and expiration date

• Sales tax information

• Interest information

• Accounting distribution

• Rate information

• Project information

• Custom fields

VOUCHER

It is often a renumbered from used in the accounts payable department to standardize and enhance a company internal control over payments to it voucher and service providers. A voucher is usually prepared after a vendor invoice has been matched with the company purchase order and receiving report.

Supporting Document for Voucher

Key Points of Voucher

• After the supporting document receive you prepare then manual voucher

• After the annual voucher you should create acomputerized vouches as like manual voucher.

• At last you attach all supporting documents in your manual voucher.

• Invoice no and date is the most important to create voucher.

• Assistant account and account manager sing is very important for the voucher.